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What is the journal entry to record first interest payment

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Miami Hotel issues $1,121,000 of its 12%, 10-year bonds at 99 on February 28, 2018. The bonds pay interest on February 28 and August 31. Assume that Miami Hotel uses the straight-line method for amortization. What is the journal entry to record the first interest payment on August 31, 2018?

Reference no: EM132345677

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